Pros
The people I work with are all intelligent and engaged in what they are doing. The benefits used to be a plus, but starting Jan 1, 2015 the benefits change to a con.
Cons
There are multiple bureaucracies across the university, hurting the ability to coordinate any work (research, administration, teaching). The IT support is barely competent; they have repeatedly been unable to handle matters the IT support at my previous employer (also a university) handled routinely. The pay for non-union staff is about 20% below peer institutions, which used to be largely off-set by better benefits, but that will not be true after Jan 1, 2015 when the cost of medical benefits go up so much that the Faculty of Arts and Sciences Faculty Senate voted unanimously to request the Provost to scrap it because of its effects on junior faculty and staff. The Provost applied minor band-aids and is going ahead.